DR Congo Economic Outlook
October 20, 2020
Although the economy likely took a hit from the Covid-19 fallout in the first half of the year, the resilience of the crucial mining sector, in large part due to some mines continuing to operate as workers were confined on-site, cushioned the blow somewhat. Available data suggests, however, that momentum dissipated at the outset of H2. Copper production lost some stride in July–August, while cobalt output declined in the same period after growing solidly during H1. And although crude production was ramped up, overall activity in the mining sector barely budged in this two-month period. Meanwhile, on 5 October, the IMF approved a six-month extension of debt service relief to 28 low-income countries, including the DRC—providing some breathing room for authorities to continue addressing the repercussions of the pandemic.DR Congo Economic Growth
GDP is expected to contract for the first time in nearly two decades this year as Covid-19 weighs on activity. Next year, the gradual recovery in global demand, particularly for minerals, coupled with the start of production at the Kamoa-Kakula copper mine, should help the economy return to growth. Political instability remains a key risk to the outlook. FocusEconomics panelists project GDP growth at 2.3% in 2021, which is down 0.9 percentage points from last month’s forecast, and at 3.3% in 2022.DR Congo Economy Data
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DR Congo Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 1,687 | -0.78 % | Jan 01 |
| Stock Market | 0.6 | 0.0 % | Jan 07 |
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